Single-family residence buy & hold investment in Cincinnati.
Purchase price: $45,000
Cash invested: $120,000
This project was originally a fix and flip, and we changed course to a rental property towards the end. We had a major contractor issue early on that then made the profit margin so small it made sense to keep as a rental.
Lessons learned? Challenges?
Thoroughly vet your contractor! Through our experience with this contractor, we made a lot of changes in how we manage contractors and vet them. We probably would not have switched to a rental property had we not had this run in, and for that though I am thankful.
Thanks for sharing! Can you give some examples of the problems you had with the contractor and how you plan on avoiding those problems in the future?
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